The Federal Reserve Bank of Boston and the Massachusetts Institute of Technology's Digital Currency Initiative issued its first findings into researching technologies for a central bank digital currency (CBDC). The collaboration, called Project Hamilton, focuses on experimentation and doesn't aim to create a usable CBDC for the U.S., the bank said. Rather, it's meant to understand how emerging technologies could support a CBDC and the challenges that remain. "This collaboration between MIT and our technologists has created a scalable CBCD research model that allows us to learn more about these technologies and the choices that should be considered when designing a CBDC," said Boston Fed Executive Vice President and interim Chief Operating Officer Jim Cunha. The research described a theoretical high-performance and resilient transaction processor for a CBDC by developing open-source research software, OpenCBDC. In the first phase of the project, the team created a core processing engine for a
